USDA (United States Department of Agriculture) Single Family Housing Loans (Section 502). They offer financing for lower income families who are having difficulty obtaining a loan from other sources.

Foreclosure Prevention

Many homeowners are having difficulty paying their mortgages or refinancing their homes given the downturn in the housing market. There are a number of resources available that may be able to assist you.

ATCAA (Amador-Tuolumne Community Action Agency), a local nonprofit organization, provides free foreclosure counseling and can be reached at (209)533-1397 Extension 231.

refinancing for those that are paying their mortgages on time but are not able to refinance to take advantage of today's lower mortgage rates perhaps due to a decrease in the value of their home, and

loan modification for those homeowners who are struggling to make their monthly mortgage payments.

There are a number of foreclosure rescue scams where fraudulent foreclosure counselors target homeowners looking for assistance. The California Attorney General's Office has more information on these scams.

For those who wish more information concerning foreclosure resources including a list of lender contacts you may wish to visit www.yourhome.ca.gov.

There has been much talk and some controversy about reverse mortgages in the media. A reverse mortgage is a home loan that lets you convert the equity in your home into cash, but no repayment is required. These are especially popular with seniors. Before considering this option, borrowers are encouraged to research their options carefully.